The most commonly used credit scoring algorithm in the U.S. is produced by the Fair Isaac Corporation (FICO). FICO scores range from 300 to 850; the higher the score, the better.
Every lender sets its own standards for what constitutes a “good” FICO score. But, in general, FICO scores fall along the following lines:
300-629: Bad credit
630-689: Average/fair credit
690-719: Good credit
720 and up: Excellent credit
